India VIX down to 13.67 - ICICIdirect

Nifty traded with a negative bias till late noon however rallied in last 45 minutes of trade to close near days high.

FIIs were net buyers in the cash segment to the tune of Rs.803 crore while they were net sellers in the stock futures and index futures to the tune of approx Rs.300 crore each.

India VIX came down from 13.89 to 13.67 (up 1.68%). As expected index is likely to continue its consolidation in the 13-15 range.

In the options space, on the call side Nifty 6000 Call saw closures of 0.35 million shares whereas Nifty 6200 Call saw additions of 0.3 million shares. On the Put side Nifty 6000 Put saw closures of 0.5 million shares.

The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 6030-6100. The trading strategy would be to create short positions if the Nifty resists at around 6087 levels for targets of 6055 and 6035. On the other hand, one can also create long positions if it takes support at around 6030 levels.

Bank Nifty: The Bank Nifty is likely to trade in the range of 12580-12780 Stock Analysis.

Source : Equity Bulls

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